December 2018 Real Estate Update

The Saskatoon real estate market for December showed a few changes from the year before but most of the numbers are lower than at the end of 2017. Despite the statistics, most Saskatoon REALTORS® I speak to found themselves busier in December than usual. There is a lot of leg work and work that we do as professionals that we don’t get results from so this is often the case. Saskatoon real estate agents ARE busy, but it is harder to put deals together and keep deals together than it ever has been in my 11+ years in the business.

For the Saskatoon and area market the dollar volume dropped by 7% from December 2017 but overall the year to date decrease was 4% from the previous year. Our listings dropped in December with 452 new houses for sale in Saskatoon and area (and condos) compared to 500 the year before. The annual decrease was 9% with 12,162 properties selling in Saskatoon in 2018 compared to 13,431 in 2017.

For Saskatoon itself, there was a 3% drop in December from the same time last year for how many houses were listed and a total of an 11% drop in listings in Saskatoon for the year with 7956 properties for sale in Saskatoon in 2018. Unit sales in December was down a whopping 20% from 2017 but only 5% for the entire year with 3329 properties selling in 2018.

The average list price in Saskatoon in December was $339,132 which was similar to 2017 so this tells me that there were more upper range homes selling in December as volume was down but prices stayed similar. The yearly average home price in Saskatoon was down only 3% from the year before with the average price of a home in Saskatoon being $333,055 at the end of this year.

For surrounding areas we saw a 20% decrease in listings in December 2018 from 2017 with 101 new listings and a yearly number of 2976, down 6% from the previous year. The total sales for the areas surrounding Saskatoon was balanced from the year before with a total of 986 properties selling outside of Saskatoon and the average home price outside of Saskatoon staying the same at $307,764.

The total number of real estate agents in Saskatoon has remained relatively constant in the past 3 years at approx. 625. This includes residential and commercial REALTORS® in Saskatoon.

1 Comment

Good to hear a lot of local Realtors are seeing action in December instead of it being “typically” slower this time of year. I appreciate the stats Kari and if you’re ever wanting to educate our audience with the latest data just get in touch!